Nutanix Inc Stock Forecast
Nutanix Inc stock price up 0.0804% on Friday
(Updated on May 03, 2024)
The Nutanix Inc stock price gained 0.0804% on the last trading day (Friday, 3rd May 2024), rising from $62.19 to $62.24. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.70% from a day low at $62.21 to a day high of $63.89. The price has risen in 7 of the last 10 days and is up by 5.94% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 513 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $100.76 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.83% during the next 3 months and, with a 90% probability hold a price between $63.51 and $71.97 at the end of this 3-month period.
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NTNX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.94%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nutanix Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $62.46. On a fall, the stock will find some support from the short-term average at $61.58. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Nutanix Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $59.04 and $58.34. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Nutanix Inc finds support just below today's level at $59.04. If this is broken, then the next support from accumulated volume will be at $58.34 and $55.52.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.68 between high and low, or 2.70%. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: $59.31 (-4.71%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (NTNX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Nutanix Inc to open at $62.78, and during the day (based on 14 day Average True Range), to move between $60.11 and $64.37, which gives a possible trading interval of +/-$2.13 (+/-3.42%) up or down from last closing price. If Nutanix Inc takes out the full calculated possible swing range there will be an estimated 6.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $63.16 (1.48%) than the support at $59.04 (5.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Nutanix Inc stock A Buy?
Nutanix Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.511 Hold/Accumulate Unchanged
Predicted Opening Price for Nutanix Inc of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$62.78 ( 0.87%) | $62.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTNX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 64.46 | 3.57 % | |
R2 | 63.82 | 2.54 % | ||
R1 | 63.42 | 1.90 % | ||
Current price: | 62.24 | |||
Support | S1 | 62.14 | -0.163 % | |
S2 | 61.74 | -0.80 % | ||
S3 | 61.10 | -1.83 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 65.25 | 4.84 % | |
R2 | 64.40 | 3.47 % | ||
R1 | 63.16 | 1.48 % | ||
Current price | 62.24 | |||
Support | S1 | 59.04 | -5.14% | |
S2 | 58.34 | -6.27% | ||
S3 | 55.52 | -10.80% |
FAQ
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